According to the Wall Street Journal of July 11, 2006, Dan Curry, a managing director of Moody’s who oversees corporate finance for the Americas, said, “We think issuing debt to repurchase stock or pay dividends is not a good idea — that doesn’t strike us as conservative financial policy.” This is highly relevant to interpreting […]

Stock buyback programs are a legalized form of market manipulation, sanctioned under SEC Rule 10b-18 and that serve to drive up the price of a company’s stock and to give false value to executive stock options — something that the SEC considers a “legitimate business reason” for rigging the market. […]

Mortgage lending, a major component of the US bond market, continued strong in Q1 2006, as shown in Federal Reserve flow of funds table F217. The four largest suppliers of mortgage funds continue to be commercial banks, savings institutions, agency mortgage pools, and issuers of asset-backed securities, accounting for 86.8% of the market in Q1 2006. In […]